STATE OF CONNECTICUT EXECUTIVE BRANCH JOBS

Investment Officer

Recruitment #200521-1224MP-001

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Introduction

The Office of the State Treasurer exists to provide and ensure effective financial management of public resources, high standards of professionalism and integrity, and expanding opportunity for State of Connecticut residents and businesses.

We are accepting applications for the position of Investment Officer, to work in the Pension Funds Management Division at our location in Hartford, CT.  This is an unclassified position, and is appointed in accordance with Section 3-13a of the Connecticut General Statues (CGS).  The position is full-time (40 hours per week), with a Monday - Friday schedule.

The Pension Funds Management Division assists the State Treasurer, as principal fiduciary, in the administration of the $34 billion Connecticut Retirement Plans and Trust Funds (CRPTF). The CRPTF consists of six State Pension Funds and nine State Trust Funds.  The funds are invested in a diversity of asset classes and exist to sustain 212,000 teachers, state and municipal employees, retirees and survivorships, as well as trust funds that support academic programs, grants and initiatives throughout the state.  

The incumbent in this position will report to the Chief Risk Officer (CRO) and will have the primary responsibility for oversight of the Accounting Team and completing a variety of risk management projects and analyses.  Key priorities of this role will include the oversight of accounting team functions and master custodian Plans & Trusts investment activity related to externally managed public & private market investments.  This position will also work with the CRO to assist with implementation of an enterprise risk management system that utilizes advanced risk management concepts and objectives suitable for a large, complex investment program. 

Key responsibilities of this role are: 

  • Day-to-day supervision of accounting staff and related functions of the accounting department. Oversight of all aspects of investment accounting, investment performance and reporting functions for public and private markets and alternative asset classes.  Manage the preparation of balance sheets and financial statements, finalize monthly and quarterly accounting close.
  • Operational point of contact for custodian bank to ensure integrity of investment activity. Prepare, analyze and evaluate financial statements and other accounting records and reports.  Conduct Plans & Trusts, asset class and investment management reconciliations.
  • Implement and oversee appropriate policies, practices and controls for the accounting unit in accordance with governmental accounting standards.
  • Coordinate with Business Office on budgeting, expense management and vendor payments including migration to centralized accounting platform (CORE – Oracle PeopleSoft).
  • Coordinate completion of Annual Report and Comprehensive Annual Financial Statements (CAFR), liaise with Internal Audit and oversee accounting compliance with GAAP/GASB.
  • Works closely with the Chief Risk Officer to incorporate risk into the analysis associated with structuring and modifying portfolios including additional investments/commitments, asset allocation changes and rebalancing recommendations.
  • Uses advanced quantitative tools to help monitor and analyze the CRPTF’s systematic and unsystematic risk exposures on a short and long term basis and support the CRO in developing periodic reports to Senior Management.
  • Assist Chief Risk Officer with investment policy management across asset classes by monitoring, analyzing and reporting on risk metrics against targets, ranges and guidelines.
  • Prepare reports as requested; all other duties as requested.

COMPENSATION:  The successful candidate will receive an attractive and commensurate salary, based upon applicable work experience.

Selection Plan

Candidates should have a Bachelor’s degree in accounting or a quantitative field such as science, mathematics, engineering/computer science, quantitative finance, actuarial studies with 7 year or more industry experience in a related field.  An advanced degree in finance, economics, or a related field is preferred.

 

All applicants must include a resume within the "Resume Tab" of their application.  Applicants invited to interview may be required to submit additional documentation, which supports their qualification(s) for this position.  These documents may include:  performance reviews, supervisory references, college transcripts, licensure, etc., at the discretion of the hiring agency.

Should you have questions pertaining to any phase of this recruitment, please contact the hiring agency's human resources office:  Ronnell Young, ronnell.young@ct.gov, 860-702-3144.

PURPOSE OF JOB CLASS (NATURE OF WORK)

In the Investment Division of the Office of the State Treasurer, this class is accountable for managing one or more investment programs or trust funds (e.g., real estate, short term, equities, international trade, etc.).

EXAMPLES OF DUTIES

Plans, directs and coordinates the implementation and operation of an investment program or trust fund (e.g., real estate, short term, equities, international trade etc.); maintains close contact with government and private sector officials (e.g., investment banking firm employees, external investment advisors, financial consultants, bank officials, corporate treasurers, clients of the Investment Division, etc.); conducts periodic reviews of on-going investment programs and recommends changes in strategy as required; stays informed on events and other factors which could affect investment programs; conducts feasibility reviews of potential investments and makes appropriate recommendations; analyzes economic indicators in investment markets; decides priorities of investment options; maintains appropriate performance records; prepares reports requested by the State Treasurer; performs related duties as required.

KNOWLEDGE, SKILL AND ABILITY

Considerable knowledge of investment practices and procedures; considerable knowledge of specific disciplines required for performance of duties (real estate, short term, etc.); considerable oral and written communication skills; considerable ability to analyze and evaluate investment alternatives; considerable ability to prepare financial and analytical reports; considerable ability to plan and maintain appropriate controls and records of investment transactions; supervisory ability.

PREFERRED QUALIFICATIONS

The Chief Risk Officer (CRO) is searching for an experienced leader that has a strong background in investment management accounting, risk analytics and project management. 

Preferences include a Bachelor’s degree in accounting or a quantitative field such as science, mathematics, engineering/computer science, quantitative finance, actuarial studies with 7 years or more industry experience in a related field.  The preferred candidate will have an advanced degree or professional designation (e.g. Master's, CPA).

The successful candidate will also have the following experience/traits:

  • Knowledge of professional accounting principles and practices including knowledge of governmental accounting.
  • Strong knowledge of pension funds.
  • Proven record of success in both academic and professional pursuits.
  • Superb team building skills with a predisposition to building consensus and achieving goals through collaboration rather than purely direct line authority.
  • Positive, results oriented style, evidenced by listening, motivating, delegating, influencing, and monitoring the work being done. 
  • High-level of energy, sense of urgency, creativity, and decisiveness coupled with the ability/willingness to work hard and well under pressure. 
  • Engaging and open interpersonal style complemented by the analytical pragmatism necessary to quickly dissect highly complex issues.
  • Strong investment / operations leadership and management skills.
  • Ability to establish immediate credibility among his/her staff, a professional who is respected for his/her intelligence and technical expertise.
  • A genuine interest in mentoring and developing professional staff members.
  • Unquestionable integrity, credibility and character, demonstrating high moral and ethical behavior.

Additionally, the successful candidate will possess the following knowledge, skills and abilities:

  • Knowledge of the public-sector environment including: GASB financial reporting; accounting rules and overall public-sector processes.
  • Demonstrated knowledge of investment concepts, strategies, styles, and statistical concepts, methods and models, and their application to investments.
  • Extensive skill in managing, mentoring and motivating staff to meet organization goals and objectives.
  • Extensive skill in negotiating issues and resolving problems.
  • Effective written and verbal communications skills, including preparing and delivering professional correspondence, reports, and presentations.
  • Ability to promote and maintain harmonious working relationships with co-workers; agency staff; external contacts; and, to work effectively in a professional team environment.
  • Strong written, verbal, and presentation skills are required. 
  • Experience interfacing and interacting with consultants and investment advisors.

Conclusion

AN AFFIRMATIVE ACTION/EQUAL OPPORTUNITY EMPLOYER

The State of Connecticut is an equal opportunity/affirmative action employer and strongly encourages the applications of women, minorities, and persons with disabilities.





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